Ownership broad-based in PSUs Oil India, NHPC, NTPC and REC

Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today informed that the ownership has been broad based in Oil India Limited, NHPC, NTPC and Rural Electrification Corporation (REC) while the process is on for National Mineral Development Corporation and Satluj Jal Vidyut Nigam (SJVN).

The government will raise about Rs.25,000 crore during the current year. Through this process, it is proposed to raise a higher amount during 2010-11. The proceeds will be utilized to meet the capital expenditure requirements of social sector schemes for creating new assets.

The market capitalization of 5 companies which have been listed since October 2004 has increased by 3.8 times from the book value of Rs.78,841 crore to Rs.2,98,929 crore.

Source : Equity Bulls

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